Today, Indian Semi finished prices down further over limited spot trades. As per assessment, the prices of Sponge iron fall by INR 100-300/MT & Billet by INR 300-600/MT (USD 4-9), day-on-day.
SteelMint’s latest price assessment for induction furnaces billet in Indian market stood at INR 35,000-38,700/MT (USD 518-573) ex-plant.
Further, the coal based sponge (78-80 FeM) C-DRI price assessment was at INR 20,000-23,200/MT (USD 296-344); prices are ex-plant & excluding GST.
Rupee & BSE Sensex
— On 12th June 2018 (Tuesday) INR to USD exchange rate stood at INR 67.45
— BSE Sensex closed at 35,692(+209) on Tuesday, as against last day (Monday) at 35,483(+39)
Raw material
— Jindal SAW (Rajasthan) increased pellet offers by INR 150/MT. Offers for Fe 63% grade pellets are assessed around INR 6,900/MT (delivered Kandla) against last assessment of INR 6,750/MT.
— The Paradip Port Trust has invited bids for allotment of 03 manual iron ore/iron ore pellets plots through the online bidding platform. The last date for submission of bid was scheduled on 02 Jul’18 at 16:30 Hrs
— India imported 4.53 MnT ferrous scrap in FY18 (Apr’17-Mar’18), down 4% as against 4.73 MnT ferrous scrap imports recorded during FY17.
— Domestic melting scrap offers rise – Mumbai & Jalna by INR 100/MT, Alang INR 500/MT, Durgapur INR 300/MT, Mandi Gobindgarh & Ludhiana by INR 200-300/MT, as per SteelMint’s daily assessment
Semi finished
— Raipur, Central India based Integrated plants offering Sponge P-DRI at INR 19,600-19,800/MT & Sponge DR CLO grade at INR 22,600-22,800/MT ex-plant
— Odisha based mills reported Billet sourcing from Raigarh, Central India.
— Bhaskar Steel and Ferro Alloy Ltd, an Odisha based plant offered FeM 80 C-DRI at INR 20,800/MT & billet at INR 35,800/MT ex-plant. An official reported trade remains weak.
— Govindam Sponge, an Odisha based plant offered FeM 80 Sponge C-DRI mix material at INR 21,000/MT & fines at INR 20,400/MT ex-plant.
— BMM Ispat in South India (Karnataka) has reduced Sponge prices by 400/MT due to weak demand and the latest price for FeM 80 P-DRI reported at INR 19,400/MT ex-Bellary, officials.
— Prakash Sponge, a prime grade sponge maker in Karnataka offered FeM 80 C-DRI lumps at INR 20,000/MT & billet at INR 34,800/MT ex-plant, an official reported.
Finish Long
— JSW’s long steel output inched up by 2% on monthly basis in May’18 to 0.329 MnT which was 0.324 MnT in the month of Apr’18
— Rathi Steels in North India-Delhi has again cut prices by INR 200-300/MT day-on-day and offered 12mm Rebars at INR 44,500-44,600/MT ex-works & excluding GST.
— Mumbai based Guardian TMT has further reduced prices by INR 200/MT day-on-day and offered 12mm Rebars at INR 39,800/MT ex-plant & excluding GST.
— Trade discount in Raipur Wire rod reported at around INR 1,200/MT and basic offers through producers were at INR 41,200/MT for 5.5mm, ex-plant & excluding GST.
— On day trade activities, major fall in rebar seen by INR 600/MT in Jalna, Maharashtra & Raipur, Central India.
Reference prices as on 12th June 2018
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| Scrap | Ex-Mumbai | HMS(80:20) | 26,000 | 25,800 | 26,200 | 0 | 27,500 | 27,700 |
| Ex-Chennai | HMS(80:20) | 26,300 | 26,200 | 26,400 | – 100 | 26,400 | 26,700 | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 23,200 | 23,100 | 23,300 | – 100 | 22,700 | 21,400 |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 20,800 | 20,700 | 20,900 | 0 | 21,100 | 20,500 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 21,700 | 21,600 | 21,800 | – 200 | 22,300 | 21,800 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 20,000 | 19,900 | 20,100 | – 200 | 20,400 | 19,800 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 21,800 | 21,700 | 21,900 | – 100 | 21,350 | 20,100 |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 19,700 | 19,600 | 19,800 | – 50 | 20,300 | 19,600 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 19,300 | 19,200 | 19,400 | – 300 | 19,800 | 18,900 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 20,200 | 20,100 | 20,300 | 0 | 20,500 | 19,300 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 38,000 | 37,900 | 38,100 | – 500 | 39,800 | 37,400 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 35,800 | 35,700 | 35,900 | – 400 | 37,000 | 34,750 | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,100 | – 500 | 36,400 | 33,700 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 34,500 | 34,400 | 34,600 | 0 | 36,400 | 34,250 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 36,000 | 35,900 | 36,100 | + 200 | 37,300 | 35,800 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 35,000 | 34,900 | 35,100 | – 300 | 36,000 | 36,500 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 34,700 | 34,600 | 34,800 | 0 | 36,500 | 34,700 | |
| Billet | Ex-Mandi Gobindgarh | 125×125 mm, IS 2831 | 38,600 | 38,500 | 38,800 | – 500 | 40,500 | 38,100 |
| Ex-Durgapur | 125×125 mm, IS 2831 | 36,200 | 36,100 | 36,300 | – 500 | 37,500 | 35,300 | |
| Ex-Rourkela | 125×125 mm, IS 2831 | 35,600 | 35,500 | 35,700 | – 500 | 36,900 | 34,500 | |
| Ex-Raipur | 125×125 mm, IS 2831 | 35,500 | 35,400 | 35,600 | – 400 | 37,600 | 35,250 | |
| Ex-Mumbai | 125×125 mm, IS 2831 | 36,200 | 36,200 | 36,300 | + 200 | 37,550 | 36,450 | |
| Ex-Chennai | 125×125 mm, IS 2831 | 35,500 | 35,400 | 35,600 | – 300 | 36,500 | 37,000 | |
| Ex-Hyderabad | 125×125 mm, IS 2831 | 35,000 | 34,900 | 35,100 | 0 | 36,750 | 35,000 | |
| TMT | Ex-Delhi/NCR | 12-25 MM, IS 1786- 500 Fe | 43,800 | 43,600 | 44,000 | – 200 | 44,600 | 40,800 |
| Ex-Durgapur | 12-25 MM, IS 1786- 500 Fe | 40,900 | 40,700 | 41,100 | – 300 | 42,300 | 39,800 | |
| Ex-Raipur | 12-25 MM, IS 1786- 500 Fe | 40,400 | 40,200 | 40,600 | – 600 | 41,900 | 39,200 | |
| Ex-Mumbai | 12-25 MM, IS 1786- 500 Fe | 40,000 | 39,800 | 40,200 | 0 | 41,300 | 40,500 | |
| Ex-Chennai | 12-25 MM, IS 1786- 500 Fe | 40,800 | 40,600 | 41,000 | – 200 | 41,000 | 41,600 | |
| Ex-Hyderabad | 12-25 MM, IS 1786- 500 Fe | 39,500 | 39,300 | 39,700 | 0 | 41,000 | 39,500 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
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